Budget Overview. Section 2 BUDGET SUMMARIES

Transcription

1 Budget Overview Section 2 BUDGET SUMMARIES Revenue & Expenditure Three Year History by Category Total Annual Budget Summary Budget Development Process Overview Budget Parameters & Key Assumptions General Fund Summary General Fund Revenue Summary General Fund Expenditure Summary Water Utility Budget Summary Wastewater Utility Budget Summary Capital Projects Summary 27

2 Revenues and Expenditures Three Year History by Category General Fund General Fund FY FY FY Financial Sources: Actual Estimated Budget Property Taxes 1,139,161 1,156,200 1,174,200 Sales Taxes 1,337,240 1,120,000 1,131,000 Other Taxes 167, , ,400 Transient Occupancy Tax 6,582,040 6,500,000 6,400,000 Investment Earnings 16,156 7,500 7,500 Licenses & Permits 86,419 57,581 57,000 Fines & Forfeitures 9,223 3,300 3,400 Rents & Concessions 251, , ,100 Intergovernmental 134, , ,500 Parks & Recreation Fees 347, , ,700 Charges for Services 158,887 89,600 83,600 Impact Fees 26, Miscellaneous 229, ,000 90,000 Transfers & Other Sources 299, ,263 10,667 TOTAL 10,785,941 10,259,169 9,822,067 Financial Uses: General Government 2,568,353 2,717,277 2,811,765 Housing Programs 44,624 40,620 45,900 Planning and Building 568, ,986 1,223,010 Public Safety 1,327,171 1,377,000 1,413,500 Public Works 1,578,067 1,642,775 1,778,453 Parks & Recreation 1,346,300 1,504,511 1,558,891 Transfers 1,855,860 3,001,555 1,899,012 TOTAL 9,288,891 11,068,724 10,730,531 Beginning Fund Balance 5,515,205 7,012,255 6,202,700 Ending Fund Balance 7,012,255 6,202,700 5,294,236 28

3 Revenues and Expenditures Three Year History by Category Capital Projects Fund Capital Projects Funds FY FY FY Financial Sources: Actual Estimated Budget Investment Earnings 6,884 6,868 - Other State Revenue 5,870 5,472 County Measure A 347,709 2,463, ,000 Other Grants 63, ,830 Impact Fees 9,282 12,049 - Miscellaneous - 150,929 - Transfers & Other Sources 850,000 2,000, ,700 Total 1,283,274 4,639,061 1,845,530 Financial Uses: Capital Imrpovements 1,938,439 6,696,933 1,965,265 Flood Wall Cap. Maint (Fund 76) 1,288 Total 1,939,727 6,696,933 1,965,265 Beginning Fund Balance 3,459,530 2,803, ,205 Ending Fund Balance 2,803, , ,470 29

4 Revenues and Expenditures Three Year History by Category Water Funds Combined Water Funds FY FY FY Financial Sources: Actual Estimated Budget Investment Earnings 7,289 3,927 2,000 Intergovernmental Charges for Services 1,301,552 1,320,049 1,311,530 Impact Fees 6, Miscellaneous 1,685 8,390 5,000 Interfund Loan Principal 55,627 Transfers in 193, ,000 Total Revenues 1,317,569 1,581,301 1,518,530 Financial Uses: Utility Enterprise 146, , ,590 Transfers - 200, ,000 Utility Enterprise 965,405 1,172,735 1,247,610 Total Expenditures 1,111,699 1,771,478 1,823,200 Beginning Fund Balance 4,917,294 4,916,665 4,726,488 Adjst. To Beg Fund Bal JV 211,225 (206,498) Ending Fund Balance 4,916,665 4,726,488 4,421,818 30

5 Revenues and Expenditures Three Year History by Category Wastewater Funds Combined Wastewater Funds FY FY FY Financial Sources: Actual Estimated Budget Investment Earnings 3,383 2, Investment Earnings Charges for Services 1,574,199 1,559,543 1,573,900 Charges for Services 111,691 90, ,700 Capital Recovery Fees 100,000 Impact Fees 51,253 11,279 - Miscellaneous Transfers & Other Sources Transfers & Other Sources 102, ,000 Total Revenue 1,844,216 1,763,917 1,786,200 Financial Uses: Transfers - 107,054 - Capital Contribution 50,004-50,000 Utility Enterprise 1,353,505 1,763,278 1,799,651 Transfers ,272 Utility Enterprise 330, , ,688 Total Expenditures 1,733,980 2,001,952 2,332,611 Beginning Fund Balance 8,979,530 8,957,823 8,633,762 Adjst. To Fund Year End Bal. (462,414) Ending Fund Balance 8,627,352 8,389,317 7,842,906 31

6 Revenues and Expenditures Three Year History by Category Special Revenue Funds Combined Special Revenue Funds FY FY FY Financial Sources: Actual Estimated Budget Investment Earnings Intergovernmental 112, , ,123 Miscellaneous 7,493 5,000 25,000 Total 120, , ,123 Financial Uses: Public Works 2,582 10,500 10,223 Home Grant Awards - 830, ,000 Parks and Recreation 2,875 5,000 25,000 Capital Projects 67, ,380 66,900 Total 73, , ,123 Beginning Fund Balance 280, , ,089 Ending Fund Balance 328, , ,233 32

7 Revenues and Expenditures Three Year History by Category Debt Service Funds Combined Debt Service Funds FY FY FY Financial Sources: Actual Estimated Budget Investment Earnings 23 7,320 - Intergovernmental Revenue 259, , ,600 Transfers & Other Sources 1,005,860 1,008,875 1,114,584 Total 1,265,860 1,281,725 1,376,184 Financial Uses: Debt Service 1,286,464 1,290,575 1,286,930 Beginning Fund Balance 1,339,874 1,319,270 1,310,420 Ending Fund Balance 1,319,270 1,310,420 1,399,674 33

8 Town of Yountville Total Annual Budget Summary Fiscal Year $16,148,376 I I I I I I I General Fund Capital Projects Fund Water Utility Enterprise Wastewater Utility Enterprise Special Revenue Funds Debt Service Funds $8,831,519 $1,965,265 $1,623,200 $1,943,339 $498,123 $1,286,930 I I I I I I Public Works Civic Facilities Water Operations & Distribution WW Collection System Operations State Gas Tax Fund 2008 Lease Revenue Bonds $1,778,453 $157,433 $562,510 $390,530 $67,123 $669,099 I I I I I I Parks & Recreation Community Projects Water Purchases & Conservation WW Treatment Operations Housing Grant Fund 2013 Lease Revenue Bonds $1,558,891 $393,522 $685,100 $1,183,685 $396,000 $356,213 I I I I I I Public Safety Drainage & Flood Control Water Capital Improvements WW Treatment Capital Flood Barrier Maintenance Measure A Debt Service $1,413,500 $110,000 $375,590 $225,436 $10,000 $261,618 I I I I Planning & Building Parks & Recreation WW Collection Capital Youth Subsidy Program $1,223,010 $529,310 $143,688 $5,000 I I I Housing Program Streets & Transportation Public Arts Program Fee Fund $45,900 $765,000 $20,000 I I Community Promotion Designated Contingency $489,685 $10,000 I Town Council/Mayor $104,815 I Town Clerk $350,345 I Town Attorney $156,500 I Town Manager's Office $458,010 I Finance $424,835 I Risk Management $51,800 I Non-Departmental $300,315 I Other Post Employment Benefits (OPEB) $475,460 34

9 Budget Development Process Overview February-April Budget Planning & Discussions Departments draft proposed operating budgets and part-time salary needs Finance develops projections: salaries, benefits & cost allocations, revenues Budget Workshop #1, April 5 - Parameters & Assumptions and CIP Review Budget narratives and templates updated Town Manager reviews budget with directors May Finance Department finalizes proposed budget May 16 Special Meeting 9:00 a.m. - 1:00 p.m. Budget Workshop #2 May 23 Special Meeting 1:30 a.m. - 5:00 p.m. Budget Workshop #3 June 21 Budget Adoption at Council Meeting On or before June Adopted Budget published & available on the Town s website. 35

10 Effect of Planning Processes on the Operating Budget The Town utilizes several planning processes that affect the development of the operating budget. Effective planning processes assist Town in assessing the financial implications of current and proposed policies, programs, and assumptions. An effective plan illustrates the likely outcomes of particular courses of action. Name of Plan Type of Planning Process Description of Planning Process Budget Impact General Government Long-Range Financial Forecast Five-year plan to be developed to facilitate long-term financial planning Forecast of revenues, expenditures, service levels and staffing needs Allows for priority allocation of resources & expenditure control Facilities Capital Maintenance Five-year plan by facility and maintenance activity or project The prioritization of departmental requests for projects and schedule & funding of maintenance requirements Stability of General Fund & capital reserves Parks Capital Maintenance Five-year plan by facility, maintenance activity or project Identifies, prioritizes and schedules improvements to parks, medians and grounds Stability of General Fund & capital reserves Street Maintenance Five-year plan to maintain and improve roadways, sidewalks, curbs and gutters Inspection, prioritization and scheduling of surface repair and preventive maintenance of streets Stability of General Fund, State Gas Tax & potential grant appropriations Vehicle / Equipment Replacement Five-year plan of scheduled vehicle and heavy equipment replacement Development of replacement intervals based on equipment age, usage, and lifetime repair costs Timing and sizing of replacement costs & financing Computer Replacement Three-year plan of the replacement of computers and other technology items Development of replacement intervals based on equipment age, usage and lifetime repair costs Timing and sizing of replacement & technology upgrade costs 36

11 Capital Improvements Plan Five-year plan of major infrastructure development and improvements Town Council identification of projects; prioritizing; costing; timing; financing and project management Predictable funding/reserve levels, long term financing planning Land Use Assumptions Ten-year plan of land use assumptions and infrastructure needs Identification of residential & non-residential land use development opportunities Water & sewer capacity plans, debt issues 37

12 Key Budget Parameters and Key Assumptions for Fiscal Year Highlights of the Proposed Budget: 3% CPI for salaries & 9% increase for medical benefits 14% OPEB rate to fully fund ARC $595,000 for General Plan Update Planning Worker s Compensation, Property and Liability Insurance allocated to departments and reduced in Risk Management. Fund Reserves at levels approved by Town Council Policy: Emergency Reserves 20% of General Fund expenditures $1,766,300 Revenue Stabilization 23% of Projected TOT revenue $1,500,000 Insurance & Claims Retention $50,000 ($30,000 required minimum) Proposed Budget includes Additional Reserves for unanticipated expenditures: Assigned for Budget Contingencies $240,000 Assigned for Legal Contingencies $250,000 38

13 GENERAL FUND SUMMARY BUDGET ESTIMATED BUDGET Beginning Fund Balance $4,170,154 $7,012,255 $6,212,880 Total Revenue 9,910,125 9,911,906 9,811,400 Total Expenditures 8,119,661 8,056,989 8,831,519 Revenue Less Expenditures before Transfers 1,790,464 1,854, ,881 Total Transfers (2,654,458) (2,654,292) (1,888,345) Excess (Deficiency) After Transfers (863,994) (799,375) (908,464) Ending Fund Balance $3,306,160 $6,212,880 $5,304,416 39

14 GENERAL FUND REVENUE SUMMARY BUDGET ESTIMATED BUDGET Transient Occupancy Tax 6,400,000 6,500,000 6,400,000 Property Tax 1,186,200 1,156,200 1,174,200 Sales Tax 1,270,000 1,120,000 1,131,000 Total Primary Revenues $8,856,200 $8,776,200 $8,705,200 Total All Other Revenues 1,053,925 1,135,706 1,106,200 Total General Fund Revenues $9,910,125 $9,911,906 $9,811,400 General Fund Revenue Overview $9.81M Property Tax 12% Transient Occupancy Tax 65% Sales Tax 12% Total All Other Revenues 11% 40

15 Primary Revenues Trend Millions Actual Actual Estimated Budget Property Tax Sales Tax Transient Occupancy Tax $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $- Transient Occupancy Tax (TOT) - Ten Year History Millions 41

16 Top 25 Sales/Use Tax Contributors The following list identifies Yountville s top 25 Sales/Use Tax contributors. The list is in alphabetical order and represents sales from January 2015 to December The Top 25 Sales/Use Tax contributors generate 88.6% of Yountville s total sales and use tax revenue. Ad Hoc Restaurant Ashford Bardessono Inn and Spa Beau Vigne Bistro Jeanty Bottega Restaurant Bouchon Restaurant Ciccio Handwritten Wines Hill Family Estate Hope & Grace Wines Hurley s Restaurant & Bar Jessup Cellars Overland Outfitters Pacific Blues Cafe Priest Ranch R & D Kitchen Ranch Market Too Redd Redd Wood The French Laundry Restaurant V Wine Cellar Vintage Estate Vintage Wine Estates Hotel Yountville 42

17 Sales Tax - Ten Year History Millions $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $- Property Tax - Ten Year History $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $- 43

18 General Fund Expenditures Estimated Budget Increase/ (Decrease) % Change General Government $2,717,277 $2,811,765 $94, % Housing 40,620 45,900 5,280 13% Planning & Building 784,986 1,223, , % Public Safety 1,377,000 1,413,500 36, % Public Works 1,637,595 1,778, , % Parks & Recreation 1,499,511 1,558,891 59, % TOTAL EXPENDITURES 8,056,989 8,831, , % Total Transfers Out 2,654,292 1,888,345 (765,947) (28.85%) TOTAL EXPENDITURES & TRANSFERS $10,711,281 $10,719,864 $8, % General Fund Transfers In/(Out) Estimated Budget $ Change Retiree Health Insurance (OPEB) (02) - (120,000) (120,000) OPEB Allocation 336,430 - (336,430) Tourist Business Improvement District (22) 10,833 10,667 (166) Fire Emergency Services Fund (28) Capital Projects (50) (2,000,000) (753,700) 1,246,300 Debt Service Lease Revenue Bonds (52) (667,550) (669,099) (1,549) Debt Service Lease Revenue Bonds (53) (334,005) (356,213) (22,208) TOTAL TRANSFERS $(2,654,292) $(1,888,345) $765,947 44

19 FY General Fund Expenditures $8,831,519 Planning & Building 14% Town Council/Mayor 1% Non-Departmental 3% Community Promotion 6% Town Manager 5% Housing 0% Parks & Recreation 18% Public Safety 16% Finance 5% Risk Management 1% Town Attorney 2% Town Clerk 4% OPEB 5% Public Works 20% 45

20 Water Budget Summary Budget Parameters Personnel: 3% CPI & 9% Health Insurance Allocations: OPEB, Liability, Property and Worker s Comp Insurance Revenue Projections follow a blend of Fiscal Year actuals for the first 10 months of the fiscal year and Fiscal Year for the last two months of the fiscal year. No revenue increases, no rate increases. Rate study underway and will be completed early Water Operating Fund estimated fund balance at June 30, 2016 $715,596. Water Operating Revenue and Expenses Millions $1.40 Revenue Expenses $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $ Est Est 46

21 Water Budget Summary Water Utility Revenue Actuals Estimated Budget Increase / Decrease Budget less Estimated % Change Residential Sales 750, , , % Non Profit Sales 81,971 88,084 88, % Commercial Sales 374, , , % Other Services 17,880 11,674 11, % Other Revenue 2,041 8,390 5,000-3, % TOTAL REVENUE $1,227,072 $1,243,439 $1,240,030 ($3,409) -0.27% Water Utility Operating Expenses Actuals Estimated Budget Increase / Decrease Budget less Estimated % Change Personnel 249, , ,790 54, % Supplies & Services 108, , ,950 41, % Capital Outlay 6,485 3,000 9,800 6, % Water Purchases 528, , ,070 25, % Depreciation Expense 70,208 75,000 78,000 3, % TOTAL OPERATING EXPENSES $962,588 $1,115,681 $1,247,610 $131, % 47

22 Cost Per Acre Foot Water Purchase History $1,000 $919 $945 $987 $700 $400 $500 $582 $667 $728 $657 $784 $665 $803 $100 48

23 Water Capital Improvement Projects Project Number WA-0008 WA-0009 Description Budget Yountville Crossroads Water Main Replacement $160,000 Water Dist. System Improvements and Blow-Offs $70,000 WA-2017 Water Meter Replacements $40,590 WA-3017 Service Lateral Replacements $105,000 Total Water Capital Projects $375,590 49

24 Wastewater Budget Summary Budget Parameters Personnel: 3% CPI, 9% Health Insurance Allocations: OPEB, Liability, Property and Worker s Comp Insurance Revenue Projections follow Fiscal Year 2014/15 Actuals No revenue increases, no rate increases. Rate study underway will be completed early The Town's largest wastewater treatment customer is the Veteran's Home; they pay approximately 50% of all treatment operating costs End of year reconciliation Wastewater Operating Fund estimated fund balance at June 30, 2016: $42,866 Wastewater Utility Revenues & Expenses Millions Revenue Expenses Estimated Budget 50

25 Wastewater Budget Summary Wastewater Utility Revenue Actual Estimated Budget Increase/ Decrease Budget less Estimated % Change Residential Sales 395, , ,700-29, % Commercial Sales 476, , ,600-3, % Veteran's Home 650, , ,200 55, % Reclaimed Water Sales 51,478 60,000 51,400-8, % TOTAL REVENUE $1,574,199 $1,559,543 $1,573,900 $14, % Wastewater Utility Expenses Actual Estimated Budget Increase/ Decrease Budget less Estimated % Change Personnel 570, , ,860 72, % Supplies & Services 476, , ,530 47, % Capital Outlay ,300 18, % Debt Service 15,434 21,275 12,525-8, % Depreciation Expense % TOTAL EXPENSES $1,300,706 $1,521,770 $1,574,215 $52, % 51

26 Wastewater Capital Improvement Projects Project Number Description Budget WW-2017 Inflow & Infiltration Reduction Program $67,863 WW-3017 Sewer Main Replacement Program $65,825 WW-4017 Plant Equipment Replacement $60,774 WW-5017 Pump Station Equipment Replacement Program $10,000 Total Wastewater Collection System Capital Projects $204,462 52

27 Capital Projects Summary Approximately $2M budget allocated as follows: Civic Facilities (CF) $157,143 Community Projects (CP) $343,522 Drainage and Flood Control (DF) $110,000 Parks and Recreation (PK) $529,310 Streets and Transportation (ST) $765,000 $2,500,000 General Fund Transfers to Capital Improvement Fund (50) 5 Year History, Cumulative: $6.69 Million $2,000,000 $1,500,000 $1,000,000 $500,000 $ Estimated Budget 53

28 Civic Facilities Projects Project Number Description Budget CF-0005 Community Center Trash Enclosure $85,000 CF-0011 Town Hall Council Chambers Improvements $5,000 CF-0016 Town Hall $10,000 CF-2017 Equipment Replacement Town Buildings $25,526 CF-4017 Civic Facilities Renovations $31,901 Total Civic Facilities Projects $157,433 54

29 Community Projects Project Number Description Budget CP-0007 GIS Mapping Improvements $50,000 CP-0010 Yountville Park Parking Improvements $50,000 CP-0015 Community Wi-Fi / Hotspot $50,000 CP-0017 Community Hall Fire and Smoke Detection System $40,000 CP-2017 ADA Accessibility Improvements Program $150,000 CP-3017 Curb, Butter, & Sidewalk Replacement $25,000 CP-6017 Vehicle & Major Equipment Replacement $30,422 CP-7017 Pavement Treatment - Paths & Parking Lots $10,000 Total Community Projects $405,422 55

30 Drainage and Flood Control Projects Project Number Description Budget DF-0005 Washington St. Drainage - Pedroni St. to Jefferson St. $80,000 DF-0017 Drainage Inlets Full Trash Capture $15,000 DF-2017 Town Wide Drainage and Erosion Program $15,000 Total Drainage & Flood Control Projects $110,000 56

31 Parks and Recreation Projects Project Number Description Budget PK-0004 Van De Leur Fencing Replacement $30,000 PK-0014 Parks Restroom Floors $25,000 PK-0015 Veterans Memorial Park Renovations $350,000 PK-0016 Parks and Recreations Utility Vehicle $25,000 PK-3017 Park Major Equipment Replacement Program $24,310 PK-4017 Park Paths Program $15,000 PK-6017 Swimming Pool Replacement Program $60,000 Total Parks & Recreation Projects $529,310 57

32 Streets and Transportation Projects Project Number Description Budget ST-0004 Surveys and Monuments Book $25,000 ST-0006 Hopper Creek Bridge Barrier Rail $90,000 ST-0015 Yountville Crossroads Street Reconstruction $600,000 ST-4017 Traffic Calming Program $30,000 ST-5017 Street Light Replacement Program $75,000 Total Streets & Transportation Projects $820,000 58